Best Bankruptcy Lawyers in Kowloon

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Wing Hang Lawyers

Wing Hang Lawyers

Kowloon, Hong Kong

Founded in 2000
10 people in their team
Chinese
English
ABOUT USRemember what we work for.Eternal Law Firm has a wide range of business areas and is committed to providing high-quality legal services to different types and groups of clients, and can also tailor-made annual legal counsel plans for individuals or companies. ABOUT USRemember what we...
Cho Mei Ting & Co.

Cho Mei Ting & Co.

Kowloon, Hong Kong

Founded in 2010
10 people in their team
Chinese
English
About us   Cho Mei Ting & Co. is an energetic law firm. We offer a wide range of services and our areas of practice cover conveyancing and real property, landlord and tenant, matrimonial proceedings, probate, civil litigation, immigration, trademark application, civil celebrant...
Littlewoods, Solicitors

Littlewoods, Solicitors

Kowloon, Hong Kong

Founded in 1997
10 people in their team
Chinese
English
Brian Littlewood was born in Newbury, England and has  lived in Hong Kong for many years. He was awarded degrees in law by University of Wales Institute of Science and Technology and by University College London.Brian is admitted as a solicitor in Hong Kong as well as in England and Wales. He...
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About Bankruptcy Law in Kowloon, Hong Kong

The bankruptcy law in Hong Kong is governed by the Bankruptcy Ordinance (Cap. 6 of the laws of Hong Kong). The procedures and legislation are complex and often require specialized legal assistance. Bankruptcy refers to legal status given to an individual who is unable to repay their debts. The debtor can declare bankruptcy or it can be petitioned by a creditor. The Official Receiver's Office oversees the case, which may involve selling assets to repay debts.

Why You May Need a Lawyer

Bankruptcy laws are intricate in nature and navigating through them can be challenging without professional help. A lawyer can assist in understanding the complexities, presenting various options and figuring out potential implications. You may need legal advice if you're considering bankruptcy, your creditor is pushing you towards bankruptcy, or you're looking to recover a debt from a person who has declared bankruptcy.

Local Laws Overview

The key aspects of bankruptcy law in Kowloon are enshrined in the Bankruptcy Ordinance. Notably, the law regards bankruptcy as a last resort to resolve debt issues. The debtor's assets may be disbursed to repay the creditors, and the debtor may also be subjected to certain restrictions, such as traveling overseas. Furthermore, the debtor is obligated to cooperate totally with the Trustee, which can be the Official Receiver or a private sector Insolvency Practitioner. There are also alternatives to bankruptcy such as Individual Voluntary Arrangements.

Frequently Asked Questions

What is the duration of bankruptcy procedure?

The typical duration is 4 to 6 years, although it can be subject to modifications influenced by individual circumstances.

Does bankruptcy free me from all debts?

No, certain types of debts may not be discharged through bankruptcy such as fines and penalties imposed by a court and any amount due under a family court order.

Can bankruptcy prevent my creditors from pursuing me?

Once you're declared bankrupt, the big majority of your creditors aren't entitled to force you to pay your debts, with some exceptions.

Does bankruptcy affect my credit rating?

Yes, it will have a substantial impact on your credit rating and limits your ability to get credit.

Can I travel overseas while declared bankrupt?

With the Trustee's permission you can, however, repeated travels may not be approved.

Additional Resources

The Official Receiver's Office, Judiciary of the Hong Kong Special Administrative Region, and the Hong Kong Bar Association can provide more information and support related to bankruptcy.

Next Steps

If you find yourself in need of legal assistance, the next step is to contact a bankruptcy lawyer or a legal aid service. Preparing all relevant financial documents and understanding the implications of bankruptcy before consultation can assist in making the discussion more productive.

Lawzana helps you find the best lawyers and law firms in Kowloon through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Bankruptcy, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Kowloon, Hong Kong—quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.